Hyperledger Intro - Reading Assignment

#42

What started the large interest in permissioned blockchain technologies such as Hyperledger?

  • Code information and data should not be necessarily open to all the participants. A permissioned DTL platform can designate trusted nodes to share the exact information they need to either execute or store information.

Why are the popular public blockchains not suitable for business use cases?

  • Because businesses need performance and cannot accept that sensible information can be seen to participants either smart contract code or business data.

What programming languages can be used to write smart contracts on Hyperledger Fabric?

  • Java, Go and Nodejs

What does it mean to have support for “pluggable consensus protocols”?

  • Depending on the context of the business the network can run a mixed of CFT or BFT procols that can be plugged and play into the network.
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#43
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The large interest around permissioned blockchain, is to mitigate the cost of risk for doing business with different companies. With permissioned blockchain, all information that is pre define and agree to share is immutable which gives all the network participants more transparent information which could reduce the overall risk of the company. As risk is a factor of cost too.
  2. Why are the popular public blockchains not suitable for business use cases?
    As public blockchain is permissionless, all information in available to everyone does not provide privacy, performance and security that is not suitable for business use cases.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Go and Node.js
  4. What does it mean to have support for “pluggable consensus protocols”?
    It means that the blockchain can use different consensus protocols depends on the needs of the network.
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#44
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The interest behind permissioned Blockchain technologies such as Hyperledger derived from the needs of businesses seeking cost-effective privacy where the participants are known to each other rather than anonymous and therefore fully untrusted. Fabric is also a pluggable consensus protocol that can be tailored for different use cases and is not constrained by domain-specific languages, thus easily implemented.

Furthermore, Fabric can leverage consensus protocols that do not require a native cryptocurrency to incent costly mining or to fuel smart contract execution. Avoidance of a cryptocurrency reduces some significant risk/attack vectors, and absence of cryptographic mining operations means that the platform can be deployed with roughly the same operational cost as any other distributed system.

  1. Why are the popular public blockchains not suitable for business use cases?
    Popular public blockchains are not suitable for business use cases for many reasons. The top reasons are surrounding the necessity of the identity of the participants as a hard requirement.
    For enterprise use, we need to consider the following requirements:
  • Participants must be identified/identifiable
  • Networks need to be permissioned
  • High transaction throughput performance
  • Low latency of transaction confirmation
  • Privacy and confidentiality of transactions and data pertaining to business transactions
    Also, Fabric enables innovation, versatility and optimization for a broad range of industry use cases and support smart contracts authored in general-purpose programming languages
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Smart contracts on Hyperledger Fabric can be authored in general-purpose programming languages such as Java, Go and Node.js

  2. What does it mean to have support for “pluggable consensus protocols”?
    Having support for “pluggable consensus protocols” enables the platform to be easily and effectively customized to fit particular use cases and trust models.

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#45
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? The popularity of Bitcoin and then other projects like Ethereum led to increased interest in blockchain. But because of operational and compliance requirements of private companies or central authorities, permissioned blockchain technologies came into the picture.
  2. Why are the popular public blockchains not suitable for business use cases? Businesses do not want to lose control over their operations. They also need to operate efficiently. Another pressing need is to comply with KYC and AML regulations.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric? Some of them are: Java, Go & Node.js
  4. What does it mean to have support for “pluggable consensus protocols”? It supports customization to fit particular use cases and trust models.
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#46

(1) What started the large interest in permissioned blockchain technologies such as Hyperledger? 0 Interest in the underlying blockchain and distributed ledger technologies.
(2) Why are the popular public blockchains not suitable for business use cases? - public blockchains generally to not require attributes that enterprises consider such as
i. Participants must be identified/identifiable
ii. Networks need to be permissioned
iii. High transaction throughput performance
iv. Low Latency of transaction confirmation
v. Privacy and confidentiality of transactions and data pertaining to business transactions
(3) What programming languages can be used to write smart contracts on Hyperledger Fabric? - the platform supports Java, Go, and Node.js.
(4) What does it mean to have support for “pluggable consensus protocols”? - enables the platform to be more effectively customized to fit particular use cases and trust models.

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#47
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    the necessity for private companies to use a blockchain but in the same time to keep part of the data not available to the public

  2. Why are the popular public blockchains not suitable for business use cases?
    to keep private some data and also for better efficency

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, go, Node.js

  4. What does it mean to have support for “pluggable consensus protocols”?
    That the organization can decide the consensus mechanism and that this can be adjusted based on the needs

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#48
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? A permissionless public blockchain has some limits about privacy and scalability. These elements are very important for the adoption of this technology in a company or in a group of companies. The permissioned blockchain technologies can increase privacy and scalability.

  2. Why are the popular public blockchains not suitable for business use cases? The public blockchains are actually slow, no scalable, with low privacy protection, difficult to update.

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric? Well known programming languages can be used, like Java, Go, Node.js .

  4. What does it mean to have support for “pluggable consensus protocols”? The support for pluggable consensus protocols enables the platform to be more effectively customized to fit particular use cases and trust models. For instance, when deployed within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput.

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#49
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The popularity of bitcoin an ethereum triggered the interest but were not suitable to be used.

  2. Why are the popular public blockchains not suitable for business use cases?
    they are slow due to the byzantine fault tolerance problem solution that is not allways required for the companies. You cannot easily upgrade the code so it’s not flexible enough. The blockchains must be compliant with regulation within the country they are used.

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java / go / node.js (general purpose languages)

  4. What does it mean to have support for “pluggable consensus protocols”?
    it means that no default consensus protocol is enforced but you can choose an appropriate protocol for each situation differently.

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#50

One. Business is liked Block chains use cases but could not use public block chains for different reasons. So they started building private ones.

Two. They wanted to keep their information private, because cost is high, rules and regulations are not clear, they don’t trust the nodes, it’s hard to integrate with their current IT…
Three. Java, go, nodeJS.
Four. It means it’s very customizable and can build infrastructures for different businesses.

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#51

What started the large interest in permissioned blockchain technologies such as Hyperledger?

Interest for blockchain technologies and derivative technologies grew, interest in applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative enterprise use cases also grew. Enterprise business needs can require identity of the participants where Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations must be followed

Why are the popular public blockchains not suitable for business use cases?
Public blockchains are not suitable because of regulatory or performance needs. For business use, we need to consider the following requirements:

Participants must be identifiable
Networks need to be permissioned
Scalable
Speed

What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Go, and nodeJS.

What does it mean to have support for “pluggable consensus protocols”?
Enables more effective customisation of the platform to fit a particular use case and trust model

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#52
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Bitcoin is what started the interest in any kind of blockchain.
  2. Why are the popular public blockchains not suitable for business use cases?
    Bitcoin, Etherium, EOS
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    NodeJS, Java and Go.
  4. What does it mean to have support for “pluggable consensus protocols”?
    The consensus protocol of the blockchain can be selected based on the needs of the network operator and the network’s requirements. This allows for more customization for the network operator.
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#53
  1. in business industry is needed for blockchain technology, but permissionless blockchain technologies are mostly not suitable for businesses, therefor there was a need for permissioned blockchain technology.
  2. regulations, some information should not go public, identification of participants of the network
  3. java, node.js, go
  4. it enables the platform to be more effectively customized to fit particular use cases and trust models.
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